Deepak Nitrite fundamentally strong stock. If you look at the quarterly chart, it has been respecting rectangle breakout. Triangle trendline breakout done. Once rectangle breakout happens, stock would roar.
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Sector is bleeding. Tremendous pressure in chemical industry. Looks like tough quarter in Q2 as well. Weekly chart showing formation of H&S pattern.
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Concall states muted growth for next 3 quarters
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Weekly RSI is about to breakout trendline. We can see some good upmove this month if broken. Maybe like 2850, 3000. 15% upmove.
